The Alternative Investment Fund Managers Directive (AIFMD) has guided the work of Alternative Investment fund managers (AIFMs) in the European Union since 2013. It governs the regulations for the authorisation, ongoing operation, transparency and reporting of EU and non-EU AIFMs that manage or market Alternative Investment Funds (AIFs) into the EU.
But AIFMs are busy people and sometimes they need a little help. This is where depositary services and AIFMD depositaries can assist.
An independent third party that is responsible for the oversight of the activity of each AIF, depositary services can include cash flow monitoring, keeping assets safe, and having responsibility for ultimate oversight of the AIF.
You’ll need depositary services in the following situations:
|MARKETING STRATEGY||AIF: EU||AIF: NON-EU|
|AIFM: EU||Marketing through private placement||N/A||Depositary-lite requirements|
|AIFM: EU||Marketing passport||Full depositary requirements||Full depositary requirements|
|AIFM: NON-EU||Marketing through private placement||Non, but depositary-lite services may be imposed by some member states||None, but depositary-lite services may be imposed by some member states|
|AIFM: NON-EU||Marketing passport||Full depositary requirements||Full depositary requirements|
There are also regulations governing where your depositary should be located:
|AIF: EU||AIF: NON-EU|
|AIFM: EU||Home member state of the AIF||
Third country where the AIF is established
Home member state of the AIFM
Member state of reference of the AIFM
|AIFM: NON-EU||No requirements for a depositary unless member states impose their own requirements
||No requirements for a depositary unless member states impose their own requirements|
With a thorough understanding of the needs of AIFMs, we provide an unobtrusive, seamless service in order to minimise the day-to-day impact on your operations.
Ocorian can offer a stand-alone depositary service or add it onto your existing corporate and fund administration needs.
We also offer depositary-lite services for funds that want to market under certain national private placement regimes in accordance with article 36 and 42 of the AIFMD.
We work with the latest technology to monitor all cash flows and cash positions of the AIF, giving you access to your information through a dedicated client portal while helping us to deliver depositary services in an efficient and cost-effective manner.
The portal enables both parties to securely share information, helping to ensure complete transparency of everyone’s tasks and responsibilities. It gives ongoing direct access to key information and documents through an online document library and is easily searchable. Parties can talk to each other using the portal, which also has an online calendar, intuitive quick links for easy navigation, and is accessible 24/7 from anywhere in the world.
We’re licensed to provide AIFMD depositary services in London (UK) and Jersey (Channel Islands), with our Luxembourg license pending.
- Best Fund Services Provider - Investment Week Fund Services Awards 2018
- Best Specialist Fund Service Solution - Investment Week Fund Services Awards 2017
- Best Local Fund Administrator - Private Equity Africa Annual GP and Advisor Awards 2017
- Risk and Compliance Award - ICSA Jersey 2017
- International Fund Services of the Year - Channel Islands Global Fund Awards 2015